| 来源类型 | Article |
| 规范类型 | 其他 |
| DOI | 10.1515/pof-2016-0012 |
| ISBN | 2036-5438 |
| Conventional direction to unconventional measures: using quantitative easing to shape Eurozone fiscal capacity. | |
| Fontana, Olimpia; Vannuccini, Simone | |
| 发表日期 | 2016-10-21 |
| 出处 | Perspectives On Federalism |
| 出版者 | De Gruyter Open |
| 出版年 | 2016 |
| 页码 | E 124-E 157 |
| 语种 | 英语 |
| 摘要 | Eight years after the outbreak of the crisis, the Eurozone (EZ) fiscal policy remains fragmented at the national level. This paper fills the structural gap between the monetary and fiscal dimensions of EZ economic policy by suggesting a ‘conventional’ direction to the unconventional Quantitative Easing (QE) policy of the European Central Bank (ECB). We propose an evolution for QE to tackle the shortcomings of the current ‘decentralized’ fiscal policy in the EZ. In a nutshell, we suggest a change in the composition of QE asset purchases, focusing on buying European Investment Bank (EIB) bonds that, in turn, would be used to finance real investments through the Juncker Plan programme. The rationale of our proposal is legitimised by an overview of the gloomy macroeconomic conditions of the EZ, and the situation in ongoing policies. The mechanism is described in detail, with a discussion of both its strengths and possible limitations. |
| 特色分类 | HB3711 Business cycles. Economic fluctuations$JN0015 European federation and integration |
| URL | http://sro.sussex.ac.uk/id/eprint/77452/ |
| 来源智库 | Science Policy Research Unit (United Kingdom) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/468800 |
| 推荐引用方式 GB/T 7714 | Fontana, Olimpia,Vannuccini, Simone. Conventional direction to unconventional measures: using quantitative easing to shape Eurozone fiscal capacity.. 2016. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| 240_download.pdf（953KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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